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Solo 401k Contribution Calculator: Boomers Can Afford Better Housing for Retirement

A recent survey by The Demand Institute revealed that baby boomers will spend $1.9 trillion on new home purchases in the next 5 years. Sense Financial Services LLC recommends boomers to take advantage of the Solo 401k Contribution Calculator to plan for better financial security and better accommodation during retirement.

Los Angeles 12/11/2014 6:05:53 PM

Baby boomers are approaching their retirement age, and their housing needs are still stronger than ever. Many boomers are planning to stay where they are, while the rest of them may want to upsize or downsize their houses. Either way, when approaching retirement age, most boomers will need to adjust their housing situation to fit their new financial and health status. Either to buy a new home or to remodel their current houses, boomers will need to plan ahead. Sense Financial recommends the Solo 401k contribution calculator for this group. This tool can help boomers plan for housing budget during retirement.

The Demand Institute released their latest survey on October 30, 2014, revealing that baby boomers will spend $1.9 trillion on new home purchases and $500 billion on rent in the next 5 years. These numbers proves that housing is still one of the main expenses for baby boomers during their retirement. Baby boomers will need a strategic financial plan to ensure they can accommodate their housing needs in the future.

With the majority of baby boomers retiring in the next five years, there is not much time left to plan for retirement. However, for those who are self-employed, it might not be too late. Self-employed individuals and small business owners are qualified to set up a Solo 401k plan, which can help them catch up with retirement planning.

One of the main benefits of this retirement solution is the generous Solo 401k contribution limit. In 2014, plan holders can put away $52,000 into their tax-deferred account. Plus, baby boomers are also qualified for catch-up contribution, which is reserved for plan holders of at least 50 years old. Therefore, their total Solo 401k contribution limit can be raised up to $57,500 per year. Using a Solo 401k contribution calculator, plan holders can find out their exact contribution limit.

Therefore, for those who are qualified to set up a Solo 401k plan, there is still time to save up for that retirement home of their dream. Investors are recommended to find out exactly how much they can contribute using a Solo 401k contribution calculator. By contributing as much as they are allowed, investors can take full advantage of the tax-deferral benefits this plan offers.

Sense Financial is California's leading provider of retirement accounts with "Checkbook Control": the Solo 401k and the Checkbook IRA. Over the years, they have assisted hundreds of clients to obtain checkbook control over their retirement accounts while providing them with the ability to invest in virtually any investment class, including real estate, private lending, mortgage notes and much more without the need for custodian approval.

To learn more about the Solo 401k contribution calculator, please visit sensefinancial.com

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Rising House Price Presents Opportunities to Self Directed Solo 401k and IRA Investors

Recent reports show soaring house price in the first quarter of 2016. This predicts a rising demand in the rental market and presents an opportunity to investors. For those with a self directed IRA or Solo 401k plan, it’s also a chance to grow th ...

Released On: 5/16/2016
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Small Businesses and the Arising Retirement Planning Crisis

According to a recent Nationwide survey, 63% of small business owners believe that small businesses should provide retirement benefits, but only half of them (34 percent) are doing so. Sense Financial discusses the obstacles to small business ret ...

Released On: 4/13/2016
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Increasing Number of Renters: Opportunities to Invest Solo 401k Funds in Real Estate

The rental market in the US is more likely to grow, study said. Investors are looking into real estate for growth and security, which makes this a great option for retirement planning with self directed Solo 401k plans.

Released On: 3/18/2016
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Self Directed Solo 401k Recommended as Small Business Confidence Drops

Despite strengthening economy, recent studies show that small business confidence is declining in the US. Expert recommends small business owners to plan ahead for their finances, starting with setting up a Solo 401k plan.

Released On: 3/10/2016
Views: 2936

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Retirement Coverage Gap: Many Unknowns Surrounding a National Retirement Savings Program

As an answer to the widening retirement coverage gap, the federal government proposes a national program for retirement savings, which will provide saving options for those who lack access to a 401k plan. This is still in the proposal stage with ...

Released On: 2/16/2016
Views: 2534

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401k for Small Business: Are Americans on Track with Their Retirement Savings?

It is no longer a surprise that many Americans are behind on their retirement savings and retirement ages are being pushed back. A recent study, however, shows that there seem to be an improvement. Sense Financial recommends self directed retirem ...

Released On: 2/12/2016
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Sense Financial President Explained Self Directed Solo 401k Plan on Real Estate Podcast

In the latest episode of the podcast Real Estate, Money, and More hosted by Shane Willis, Sense Financial president, Dmitriy Fomichenko appeared as a special guest speaker. In this episode, real estate investors can learn more about the self dire ...

Released On: 1/5/2016
Views: 3882

Self Directed Retirement Accounts: Real Estate Attracting Millennials

Contrary to the common belief, Millennials are buying houses as investments for their retirement. With the use of self directed retirement accounts such as the Checkbook IRA and Solo 401k, real estate presents a great investment option to young i ...

Released On: 12/20/2015
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Small Business 401k: Same Funds, Double The Fees

Small businesses often shy away from setting up a 401k for their business because of the high costs, and that’s for a reason. A recent report shows that small businesses often have to pay double the fees compared to larger corporations. The Solo ...

Released On: 12/14/2015
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Self Directed Retirement Accounts: Real Estate Attracting Millennials

Contrary to the common belief, Millennials are shopping for real estate, not for residence but for investment. With the use of self directed retirement accounts such as the Checkbook IRA and Solo 401k, real estate presents great investment option ...

Released On: 12/11/2015
Views: 4573

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Last chance to set up a Solo 401k for small businesses for 2015 contributions

As the year is coming to an end, Sense Financial reminds business owners and self employed professionals of the Solo 401k deadline for 2015. There is only a month left to take advantage of one of the largest tax deductions for this year.

Released On: 11/18/2015
Views: 7382

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Solo 401k Contribution Limit Announced for 2016

The IRS recently announced the Solo 401k contribution limit for 2016. The Solo 401k remains among qualified retirement plans with the highest contribution limit, allowing plan holders to build their savings faster.

Released On: 11/2/2015
Views: 29579

Self Directed Retirement Plans: Retirement Solutions for Millennials

A recent study shows that Millennials are not saving enough for retirement, assuming that they will need a lot less to retire. Many shy away from the stock market after witnessing the recession. Sense Financial recommends self directed retirement ...

Released On: 10/28/2015
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Real Estate Offers Security to Retirement Plans during Stock Market Volatility

According to data from the past 60 years, real estate took second place behind bonds as the asset class with the best track record during equity bear market. Sense Financial recommends real estate as a way to diversify retirement portfolio.

Released On: 10/13/2015
Views: 2504

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Self Directed 401ks Give Small Business Owners Peace of Mind

In light of the recent stock market turmoil, many retirement plan owners are now reassessing their portfolio allocations. Aside from rebalancing the portfolio, Sense Financial recommends investors to consider self directed 401k plans with alterna ...

Released On: 9/24/2015
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Americans Regret Not Saving More for Retirement

An American Century study shows that America’s biggest regret is not saving more for retirement. Sense Financial explored the obstacles that self employed individuals and small business owners have to face when planning for retirement.

Released On: 9/9/2015
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401k Providers Are the Main Source for Retirement Advice

A recent study shows most retirement plan participants rely on their plan providers for retirement advice. Sense Financial recommends investors to do their due diligence and take control of their retirement future.

Released On: 8/20/2015
Views: 7393

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Leading Solo 401k plan provider to receive the Best of Yorba Linda Award

Sense Financial, a provider of self-directed retirement accounts, is recognized as the best local business in the Financial Services category by the Yorba Linda Award Program.

Released On: 8/5/2015
Views: 4937

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Sense Financial Services

  • 155 N Riverview Dr. Suite #100
    Anaheim , California 92808
    USA
  • 1-(949) 228-9394